Clear Channel Media & Entertainment has signed a music royalty agreement with Fearless Records.
Under the deal, Fearless artists will receive some of the revenue from airplay on Clear Channel streams and broadcast stations, presumably in exchange for the broadcaster receiving favorable music royalty rates.
Formed in 1994, Fearless describes itself as an independent music label specializing in up-and-coming rock bands. “Fearless has helped numerous musicians build their careers, helping them become prominent names in rock music. But without radio play, none of it would have been possible,” said Fearless Records President Bob Becker, who adds radio remains where fans go to discover music, whether on-air or online.
This is the eighth such deal for Clear Channel, following similar agreements with Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment, Naxos and Wind-up Records. Clear Channel CEO Bob Pittman says the contracts are part of the broadcaster’s efforts to build a sustainable business model for Internet radio.